Seven Group Holdings has withdrawn its market guidance on the back of falling advertising revenue and declining oil prices, on the same day that Seven West Media criticised a report it was entertaining a prospective sale of West Australian Newspapers Holdings.
The Australian share market has plunged at the open on heavy losses for the big banks after an APRA suggestion to suspend their dividends and a downgrade to their credit ratings.
Saudi Arabia, Russia and allied oil producers will agree to deep cuts to their crude output at talks this week only if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis.
Gold prices have fallen over 1.0 per cent, retreating from a near one-month high hit earlier in the session, as signs of slowdown in coronavirus cases in major epicenters boosted equity markets, drawing away some of the bullion's safe-haven appeal.
The Australian share market has been unable to sustain its early gains, closing down after officials in the US ruled out a return to normalcy until a coronavirus vaccine is found.
Representatives from the tourism and higher education sectors have today criticised aspects of the federal government’s JobKeeper program, voicing concerns that many businesses may not qualify for the wage subsidies.
The Reserve Bank of Australia has left the cash rate at 0.25 per cent and reaffirmed a 25 basis-point yield target on three-year Australian government bonds.
Gold prices surged over 2.0 per cent to a more than three-week high on Monday on expectations of global stimulus measures to counter the economic damage caused by the outbreak of the novel coronavirus.
Oil prices have slumped, pulling back from last week's gains after Saudi Arabia and Russia delayed a meeting of oil producers aimed at resolving growing worldwide oversupply as the coronavirus pandemic pummels demand.
WA confirms seven new COVID-19 cases and records its fourth death. The Westin Perth hotel will be used to quarantine health care workers. WA gains $5.5 million in PPE equipment. New rules have been announced to help charities.
The Australian share market has rallied by more than 4 per cent, with all sectors posting gains as the COVID-19 epidemic showed some signs of plateauing in Europe.
The announced closure of several regional newspapers has prompted the release of $5 million in federal government funding to "help keep local communities informed" during the coronavirus crisis.
Global benchmark oil prices are expected to open lower as a dispute between top crude exporters Russia and Saudi Arabia raises concerns of another collapse in talks to curb production at a meeting this week.
Gold prices edged higher after gloomy US nonfarm payrolls data magnified the economic toll from the coronavirus, although a stronger dollar capped bullion's advance.
Australia has moved into the suppression phase of the coronavirus. There were 22 new infections in Western Australia, and 217 new cases across the country. Places of worship taking part in religious services over Easter will be considered "workplaces".
Crude prices posted their biggest-one day gains on record after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.
Oil prices have fallen after US crude inventories rose last week by the most since 2016, while gasoline demand suffered its biggest weekly drop ever due to the coronavirus pandemic.
Gold prices firmed as investors sought safe-haven assets after sombre US economic data exacerbated fears of an economic downturn amid increasing lockdowns and other restrictions globally to combat the coronavirus pandemic.
Health Minister Roger Cook said testing criteria for COVID-19 would expand as of tomorrow, 28 new cases in WA overnight; Premier Mark McGowan aired his grievances with the Artania cruise ship, and Andrew Forrest pledged $160 million towards procuring medical supplies and increasing testing in WA.
